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Dronfield – Freehold Neighbourhood Retail Centre Investment

Dronfield Civic Centre, Units 1-14, Dronfield, S18 1PD

Property Type:
Commercial
Sub Type:
Retail
Tenure:
Freehold

Income

£466,600 pa

Description

  • A busy neighbourhood scheme comprising 15 retail units, 7 flats and a garage.
  • Dronfield is a popular residential suburb between Sheffield and Chesterfield.
  • Freehold.
  • The centre comprises a mix of national and local occupiers. National tenants include Betfred, McColl’s, Barnardo’s and Cooplands.
  • Marketing Rent of £466,600 per annum subject to vendor top up on Unit 5.
  • 47% of the income is secured to Midland Co-operative Society.
  • Successful scheme with an AWULT of 3.36 years to expiry and 2.58 years to break.
  • Large car park comprising approximately 50 spaces.
  • Total site area of 1.85 acres providing the potential for future development.
  • Asset management opportunities with 7 flats.
  • Opportunity to replace local covenants with national multiples.
  • We are instructed to seek offers in excess of £3,500,000 subject to contract. A purchase at this level would reflect a net initial yield of 12.5% subject to standard purchaser’s costs.